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Energy and Capital: Further Exploration of E-K Interactions and Economic Performance

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  • Catherine Morrison

Abstract

This paper explores some interactions between energy and capital that affect firms’ productive performance through indirect effects of energy price changes. Different capital stocks (including high-tech capital) and different U.S. manufacturing industries (including high and low energy- and capital-intensive industries) are examined. This allows evaluation of cross-effects, expressed as the impact of changing capital composition on energy conservation (computer-induced energy conservation) and energy price effects on capital returns (including composition, utilization and scale). The resulting effects on productivity growth are then considered, through the impact of energy price changes both on the demand and cost share of energy, and on the measured returns to different types of capital.

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  • Catherine Morrison, 1993. "Energy and Capital: Further Exploration of E-K Interactions and Economic Performance," The Energy Journal, , vol. 14(1), pages 217-243, January.
    • Handle: RePEc:sae:enejou:v:14:y:1993:i:1:p:217-243
    DOI: 10.5547/ISSN0195-6574-EJ-Vol14-No1-9
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    1. Morrison, Catherine J, 1985. "Primal and Dual Capacity Utilization: An Application to Productivity Measurement in the U.S. Automobile Industry," Journal of Business & Economic Statistics, American Statistical Association, vol. 3(4), pages 312-324, October.
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    Cited by:

    1. H. Kim, 1999. "Economic Capacity Utilization and its Determinants: Theory and Evidence," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 15(4), pages 321-339, December.
    2. Miguel A. Tovar and Emma M. Iglesias, 2013. "Capital-Energy Relationships: An Analysis when Disaggregating by Industry and Different Types of Capital," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4).
    3. Dolores Añón Higón & Ioannis Bournakis, 2024. "Participation in global value chains (GVCs) and markups: firm evidence from six European countries," International Economics and Economic Policy, Springer, vol. 21(2), pages 515-539, May.
    4. Nguyen, Sang V & Streitwieser, Mary L, 1999. "Factor Substitution in U.S. Manufacturing: Does Plant Size Matter?," Small Business Economics, Springer, vol. 12(1), pages 41-57, February.
    5. Elena Ketteni & Theofanis Mamuneas & Panos Pashardes, 2013. "ICT and Energy Use: Patterns of Substitutability and Complementarity in Production," Cyprus Economic Policy Review, University of Cyprus, Economics Research Centre, vol. 7(1), pages 63-86, June.
    6. Khalid, Waqar & Özdeşer, Hüseyin & Jalil, Abdul, 2021. "An empirical analysis of inter-factor and inter-fuel substitution in the energy sector of Pakistan," Renewable Energy, Elsevier, vol. 177(C), pages 953-966.
    7. Sooriyakumar Krishnapillai & Henry Thompson, 2012. "Cross Section Translog Production and Elasticity of Substitution in U.S. Manufacturing Industry," International Journal of Energy Economics and Policy, Econjournals, vol. 2(2), pages 50-54.
    8. Sang V Nguyen & Mary L Streitwieser, 1997. "Capital-Energy Substitution Revisted: New Evidence From Micro Data," Working Papers 97-4, Center for Economic Studies, U.S. Census Bureau.
    9. Bataille, Chris & Melton, Noel, 2017. "Energy efficiency and economic growth: A retrospective CGE analysis for Canada from 2002 to 2012," Energy Economics, Elsevier, vol. 64(C), pages 118-130.

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    More about this item

    Keywords

    E-K interactions; Energy; Capital; Productivity; Energy prices;
    All these keywords.

    JEL classification:

    • F0 - International Economics - - General

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